How can AI be used to improve efficiency and reduce costs in the supply chain?



AI is revolutionizing the supply chain industry by providing data-driven insights, improving efficiency, and enabling better decision-making. Here’s how AI is making an impact:

· Cost Analysis: AI tools analyse cost structures, identify cost drivers, and provide actionable insights to reduce expenses. For example, they can break down material, labour, and overhead costs to suggest areas for savings.

· Price Analysis: AI compares current prices with market averages and historical trends, helping businesses determine if they’re paying competitive rates.

Tools like AIMDRIVE-AI simplify AI-driven cost and price analysis, helping businesses optimize their supply chain operations and improve cost efficiency. 

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